- Tesla’s Cybertruck will be a less popular vehicle than originally anticipated, according to Morgan Stanley.
- So far, Tesla says it has 1.6 million reservations for the vehicle on the books.
- Morgan Stanley believes the pickup is headed more for cult status and won’t ever be a major seller.
Tesla first introduced its Cybertruck electric pickup back in 2019, several years and one pandemic ago. To say the model polarized people would be an understatement; it divided fans of the brand, of the format, and just about everyone else, and it still does. People either love it or hate it.
No one can deny that it’s original. But the Cybertruck has also been dogged by all sorts of uncertainty about when – or even if – it would ever reach production. Four years after the concept was presented, we still await the model. According to Tesla's latest forecasts, production will start next summer, but it will be very limited at first.
Whether that happens as scheduled is anyone’s guess. Stay tuned.
Assuming the model does actually become reality, we can count Morgan Stanley among those less than bullish about the future pickup’s fortunes. The investment firm believes that the model will sell, but much less than Tesla anticipates.
Tesla says it has in hand 1.6 million reservations and it believes it will sell several hundred thousand units each year. For Morgan Stanley, these forecasts are too enthusiastic. The firm believes the model “will more likely be an enthusiast/cult car with far more limited volume.” It pegs annual sales as hitting about 50,000 units.
The firm also wonders what the appeal of the vehicle will be when it’s seen regularly on the road.
This is a question that has been raised for some time. One of the big draws of the Cybertruck has been its unconventional design; reservations exploded after the reveal partly because of the look of the truck. Fans of the brand like its non-conformity and those who like to be different have been drawn to it.
Now, a little over three years after its unveiling, the Cybertruck’s appearance is no longer a surprise. The original effect of surprise may well fade.